Toronto’s Li-Cycle., a global leader in lithium-ion battery resource recovery, has signed an exclusive agreement with a major luxury auto manufacturer to recycle lithium-ion battery manufacturing scrap at its Germany Spoke facility.
The high-performance electric vehicle (EV) OEM, which remains unnamed, will supply Li-Cycle’s German operations with battery scrap directly from within the country. The deal further cements Li-Cycle’s position as a preferred recycling partner for the world’s top EV manufacturers.
“We are excited to continue strengthening our partnerships with leading global EV OEMs,” said Ajay Kochhar, President and CEO of Li-Cycle.
“This exclusive recycling agreement secures a further quality supply of recycling feedstock for our Germany Spoke. This is also indicative of our position as a preferred recycling partner who can process lithium-ion battery materials sustainably and efficiently.”
Li-Cycle has emerged as a key player in sustainable battery recycling, serving 13 leading EV OEMs and 15 battery cell and material producers throughout 2024.
The company’s largest source of global battery feedstock last year was a U.S.-headquartered EV and battery manufacturer with significant global market share.
As the demand for electric vehicles continues to rise, Li-Cycle is strategically expanding its Spoke & Hub model to efficiently process battery materials and support a circular economy in the EV industry.